8-K 1 ecc03001_oct.txt OCTOBER 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D. C. 20549 Form 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 27, 2003 ENCORE CREDIT CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust (Exact name of registrant as specified in its charter) New York (governing law of 333-102489-09 54-2114680 Pooling and Servicing Agreement) (Commission 54-2114681 (State or other File Number) IRS EIN jurisdiction of Incorporation) c/o Wells Fargo Bank minnesota, N.A. 9062 Old Annapolis Road Columbia, MD, 21045 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 410)884-2000 (Former name or former address, if changed since last report) ITEM 5. Other Events On October 27, 2003 a distribution was made to holders of ENCORE CREDIT CORPORATION, Mortgage Pass-Through Certificates, Series 2003-1 Trust. ITEM 7. Financial Statements and Exhibits (c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the October 27, 2003 distribution. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ENCORE CREDIT CORPORATION Mortgage Pass-Through Certificates, Series 2003-1 Trust By: Wells Fargo Bank Minnesota, N.A., as Trustee By: /s/ Beth Belfield, Assistant Vice President By: Beth Belfield, Assistant Vice President Date: 10/30/03 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 2003-1 Trust, relating to the October 27, 2003 distribution. EX-99.1

ENCORE CREDIT CORPORATION Mortgage Pass-Through Certificates Record Date: 89/3130/03 Distribution Date: 910/2527/03 ECC Series: 2003-1 Contact: Customer Service - CTSLink Wells Fargo Bank Minnesota, N.A. Securities Administration Services 7485 New Horizon Way Frederick, MD 21703 Telephone: (301) 815-6600 Fax: (301) 815-6660 Certificateholder Distribution Summary Certificate Certificate Beginning Class Pass-Through Certificate Interest Principal Class CUSIP Description Rate Balance Distribution Distribution A1 29256AAA5 SEN 1.~~51000~~52000% ~~196~~190,~~219~~939,~~638~~941.3716 ~~255~~257,~~140~~981.0208 56,~~279~~186,~~697~~516.2164 A2 29256AAB3 SEN 1.~~52000~~53000% 2725,~~264~~373,~~522~~294.5375 3534,~~686~~507.2368 124,~~891,227~~133.7817 M1 29256AAC1 SUB 2.~~16000~~17000% 16,027,000.00 2930,~~810~~914.2230 0.00 M2 29256AAD9 SUB 3.~~61000~~62000% 11,846,000.00 3638,~~824~~117.6180 0.00 B1 29256AAE7 SUB 5.~~11000~~12000% 8,500,000.00 3738,~~402~~684.3644 0.00 B2 29256AAF4 SUB 5.~~11000~~12000% 2,788,000.00 12,~~267~~688.9750 0.00 X EEC03001X SUB 0.00000% 3,762,696.56 1972,~~017,016~~301.8352 0.00 P EEC03001P SUB 0.00000% 100.00 4260,~~925~~808.1145 0.00 R3 EEC0301R3 SUB 0.00000% 0.00 0.00 0.00 Totals ~~266~~259,~~407~~237,~~957~~032.4647 1,~~467~~446,~~073~~003.3577 76,~~170~~210,~~924~~649.9981

Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses A1 0.00 ~~190~~184,~~939~~753,~~941~~424.1652 56,~~534~~444,~~837~~497.2372 0.00 A2 0.00 25,~~373~~349,~~294~~161.7558 158,~~926,914~~640.0185 0.00 M1 0.00 16,027,000.00 2930,~~810~~914.2230 0.00 M2 0.00 11,846,000.00 3638,~~824~~117.6180 0.00 B1 0.00 8,500,000.00 3738,~~402~~684.3644 0.00 B2 0.00 2,788,000.00 12,~~267~~688.9750 0.00 X 0.00 3,762,696.56 1972,~~017,016~~301.8352 0.00 P 0.00 100.00 4260,~~925~~808.1145 0.00 R3 0.00 0.00 0.00 0.00 Totals 0.00 ~~259~~253,~~237~~026,~~032~~382.4766 87,~~637~~656,~~998~~653.3458 0.00 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.

Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) A1 206,677,000.00 ~~196~~190,~~219~~939,~~638~~941.3716 0.00 56,~~279~~186,~~697~~516.2164 0.00 0.00 A2 29,116,000.00 2725,~~264~~373,~~522~~294.5375 0.00 124,~~891,227~~133.7817 0.00 0.00 M1 16,027,000.00 16,027,000.00 0.00 0.00 0.00 0.00 M2 11,846,000.00 11,846,000.00 0.00 0.00 0.00 0.00 B1 8,500,000.00 8,500,000.00 0.00 0.00 0.00 0.00 B2 2,788,000.00 2,788,000.00 0.00 0.00 0.00 0.00 X 3,764,263.58 3,762,696.56 0.00 0.00 0.00 0.00 P 100.00 100.00 0.00 0.00 0.00 0.00 R3 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Totals 278,718,363.58 ~~266~~259,~~407~~237,~~957~~032.4647 0.00 76,~~170~~210,~~924~~649.9981 0.00 0.00 (1) Amount Does Not Include Excess Special Hazard, Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution A1 56,~~279~~186,~~697~~516.2164 ~~190~~184,~~939~~753,~~941~~424.1652 0.~~92385675~~89392349 56,~~279~~186,~~697~~516.2164 A2 124,~~891,227~~133.7817 25,~~373~~349,~~294~~161.7558 0.~~87145538~~87062651 124,~~891,227~~133.7817 M1 0.00 16,027,000.00 1.00000000 0.00 M2 0.00 11,846,000.00 1.00000000 0.00 B1 0.00 8,500,000.00 1.00000000 0.00 B2 0.00 2,788,000.00 1.00000000 0.00 X 0.00 3,762,696.56 0.99958371 0.00 P 0.00 100.00 1.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 R3 0.00 0.00 0.00000000 0.00 Totals 76,~~170~~210,~~924~~649.9981 ~~259~~253,~~237~~026,~~032~~382.4766 0.~~93010388~~90782100 76,~~170~~210,~~924~~649.9981

Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion A1 206,677,000.00 ~~949~~923.~~40239296~~85674826 0.00000000 2529.~~54564470~~93326127 0.00000000 A2 29,116,000.00 ~~936~~871.~~41030808~~45537677 0.00000000 640.~~95493131~~82886282 0.00000000 M1 16,027,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 M2 11,846,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B1 8,500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 B2 2,788,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 X 3,764,263.58 999.58371140 0.00000000 0.00000000 0.00000000 P 100.00 1000.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000000 0.00000000 0.00000000 0.00000000 (2) All classes are per $1,000 denominations

Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution A1 0.00000000 2529.~~54564470~~93326127 ~~923~~893.~~85674826~~92348699 0.~~92385675~~89392349 2529.~~54564470~~93326127 A2 0.00000000 640.~~95493131~~82886282 ~~871~~870.~~45537677~~62651394 0.~~87145538~~87062651 640.~~95493131~~82886282 M1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 M2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 B2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 X 0.00000000 0.00000000 999.58371140 0.99958371 0.00000000 P 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (3) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class Amount Rate Balance Interest Shortfall Shortfall A1 206,677,000.00 1.~~51000~~52000% ~~196~~190,~~219~~939,~~638~~941.3716 ~~255~~257,~~140~~981.0408 0.00 0.00 A2 29,116,000.00 1.~~52000~~53000% 2725,~~264~~373,~~522~~294.5375 3534,~~686~~507.2368 0.00 0.00 M1 16,027,000.00 2.~~16000~~17000% 16,027,000.00 2930,~~810~~914.2230 0.00 0.00 M2 11,846,000.00 3.~~61000~~62000% 11,846,000.00 3638,~~824~~117.6180 0.00 0.00 B1 8,500,000.00 5.~~11000~~12000% 8,500,000.00 3738,~~402~~684.3644 0.00 0.00 B2 2,788,000.00 5.~~11000~~12000% 2,788,000.00 12,~~267~~688.9750 0.00 0.00 X 3,764,263.58 0.00000% 3,762,696.56 0.00 0.00 0.00 P 100.00 0.00000% 100.00 0.00 0.00 0.00 R3 0.00 0.00000% 0.00 0.00 0.00 0.00 Totals 278,718,363.58 ~~407~~412,~~131~~893.4380 0.00 0.00

Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance A1 0.0200 0.00 ~~255~~257,~~140~~981.0208 0.00 ~~190~~184,~~939~~753,~~941~~424.1652 A2 0.00 0.00 3534,~~686~~507.2368 0.00 25,~~373~~349,~~294~~161.7558 M1 0.00 0.00 2930,~~810~~914.2230 0.00 16,027,000.00 M2 0.00 0.00 3638,~~824~~117.6180 0.00 11,846,000.00 B1 0.00 0.00 3738,~~402~~684.3644 0.00 8,500,000.00 B2 0.00 0.00 12,~~267~~688.9750 0.00 2,788,000.00 X 0.00 0.00 1972,~~017,016~~301.8352 0.00 3,762,696.56 P 0.00 0.00 4260,~~925~~808.1145 0.00 100.00 R3 0.00 0.00 0.00 0.00 0.00 Totals 0.0200 0.00 1,~~467~~446,~~073~~003.3577 0.00 (4) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy, or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

Interest Distribution Factors Statement Beginning Payment of Original Current Certificate/ Current Unpaid Current Face Certificate Notional Accrued Interest Interest Class (5) Amount Rate Balance Interest Shortfall Shortfall A1 206,677,000.00 1.~~51000~~52000% ~~949~~923.~~40239296~~85674826 1.~~23448686~~24823314 0.00000000 0.00000000 A2 29,116,000.00 1.~~52000~~53000% ~~936~~871.~~41030808~~45537677 1.~~22565703~~18517928 0.00000000 0.00000000 M1 16,027,000.00 2.~~16000~~17000% 1000.00000000 1.~~86000000~~92888875 0.00000000 0.00000000 M2 11,846,000.00 3.~~61000~~62000% 1000.00000000 3.~~10861135~~21777815 0.00000000 0.00000000 B1 8,500,000.00 5.~~11000~~12000% 1000.00000000 4.~~40027765~~55111059 0.00000000 0.00000000 B2 2,788,000.00 5.~~11000~~12000% 1000.00000000 4.~~40027618~~55111191 0.00000000 0.00000000 X 3,764,263.58 0.00000% 999.58371140 0.00000000 0.00000000 0.00000000 P 100.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 R3 0.00 0.00000% 0.00000000 0.00000000 0.00000000 0.00000000 (5) All classes are per $1,000 denominations

Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance A1 0.~~00000010~~00000000 0.00000000 1.~~23448676~~24823314 0.00000000 ~~923~~893.~~85674826~~92348699 A2 0.00000000 0.00000000 1.~~22565703~~18517928 0.00000000 ~~871~~870.~~45537677~~62651394 M1 0.00000000 0.00000000 1.~~86000000~~92888875 0.00000000 1000.00000000 M2 0.00000000 0.00000000 3.~~10861135~~21777815 0.00000000 1000.00000000 B1 0.00000000 0.00000000 4.~~40027765~~55111059 0.00000000 1000.00000000 B2 0.00000000 0.00000000 4.~~40027618~~55111191 0.00000000 1000.00000000 X 0.00000000 0.00000000 ~~270~~258.~~17683762~~29793779 0.00000000 999.58371140 P 0.00000000 0.00000000 ~~429251~~608084.~~10000000~~50000000 0.00000000 1000.00000000 R3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 (6) Amount Does Not Include Excess Special Hazard, ~~Bankrupcy~~Bankruptcy,or Fraud Losses Unless Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.

CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 87,~~905~~916,~~799~~548.6714 Liquidations, Insurance Proceeds, Reserve Funds 0.00 Proceeds from Repurchased Loans 0.00 Other Amounts (Servicer Advances) 0.00 Realized Loss (Gains, Subsequent Expenses & Recoveries) 0.00 Prepayment Penalties 0.00 Total Deposits 87,~~905~~916,~~799~~548.6714 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee ~~267~~259,~~801~~894.3356 Payment of Interest and Principal 87,~~637~~656,~~998~~653.3458 Total Withdrawals (Pool Distribution Amount) 87,~~905~~916,~~799~~548.6714 Ending Balance 0.00

SERVICING FEES Gross Servicing Fee ~~111~~108,~~003~~015.2943 Additional Service Fee ~~142~~137,~~422~~887.2864 Credit Risk Manager Fee 3,~~330~~240.1046 Servicing Fee 8,~~825~~590.6072 Wells Fargo Bank Minnesota, NA 2,~~220~~160.0631 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee ~~267~~259,~~801~~894.3356

OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Reserve Fund 1,000.00 10.7000 10.7000 1,000.00 Financial Guaranty 0.00 0.00 0.00 0.00

LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS DELINQUENT BANKRUPTCY FORECLOSURE REO Total No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0167,419.0025 0.00 0.00 0167,419.0025 30 Days 2132 0 0 0 2132 34,~~659~~804,~~459~~360.3988 0.00 0.00 0.00 34,~~659~~804,~~459~~360.3988 60 Days 134 0 39 0 1613 1412,~~642,788~~379.2464 0.00 ~~537~~1,~~524~~544,221.7257 0.00 21,~~180~~956,~~312~~601.9621 90 Days 20 0 39 0 59 ~~205,465~~0.4200 0.00 ~~489~~1,~~865~~474,919.5401 0.00 ~~695~~1,~~330~~474,919.9601 120 Days 0 0 24 0 24 0.00 0.00 ~~511~~563,~~750~~965.8754 0.00 ~~511~~563,~~750~~965.8754 150 Days 0 0 2 0 2 0.00 0.00 ~~347~~511,~~803~~750.1987 0.00 ~~347~~511,~~803~~750.1987 180+ Days 0 0 13 0 13 0.00 0.00 ~~169~~517,~~803~~606.6584 0.00 ~~169~~517,~~803~~606.6584 Totals 36 01 1127 0 4764 5,~~507~~216,~~713~~740.0552 0167,419.0025 24,~~056~~612,~~747~~463.9783 0.00 79,~~564~~996,~~461~~623.0260 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0.~~000000~~068353% 0.000000% 0.000000% 0.~~000000~~068353% 0.~~000000~~066109% 0.000000% 0.000000% 0.~~000000~~066109% 30 Days 12.~~403743~~187286% 0.000000% 0.000000% 0.000000% 12.~~403743~~187286% 1.~~410447~~897107% 0.000000% 0.000000% 0.000000% 1.~~410447~~897107% 60 Days 0.~~868984~~273411% 0.000000% 0.~~200535~~615174% 0.000000% 10.~~069519~~888585% 0.~~633172~~162837% 0.000000% 0.~~207175~~609770% 0.000000% 0.~~840347~~772607% 90 Days 0.~~133690~~000000% 0.000000% 0.~~200535~~615174% 0.000000% 0.~~334225~~615174% 0.~~079191~~000000% 0.000000% 0.~~188806~~582404% 0.000000% 0.~~267998~~582404% 120 Days 0.000000% 0.000000% 0.~~133690~~273411% 0.000000% 0.~~133690~~273411% 0.000000% 0.000000% 0.~~197242~~222694% 0.000000% 0.~~197242~~222694% 150 Days 0.000000% 0.000000% 0.~~133690~~136705% 0.000000% 0.~~133690~~136705% 0.000000% 0.000000% 0.~~134052~~202076% 0.000000% 0.~~134052~~202076% 180+ Days 0.000000% 0.000000% 0.~~066845~~205058% 0.000000% 0.~~066845~~205058% 0.000000% 0.000000% 0.~~065447~~204388% 0.000000% 0.~~065447~~204388% Totals 2.~~406417~~460697% 0.~~000000~~068353% 01.~~735294~~845523% 0.000000% 34.~~141711~~374573% 2.~~122810~~059944% 0.~~000000~~066109% 01.~~792722~~821332% 0.000000% 23.~~915532~~947385%

Delinquency Status By Groups

DELINQUENT BANKRUPTCY FORECLOSURE REO Total 1 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 01 0 0 01 0167,419.0025 0.00 0.00 0167,419.0025 30 Days 2131 0 0 0 2131 34,~~659~~440,~~459~~896.3940 0.00 0.00 0.00 34,~~659~~440,~~459~~896.3940 60 Days 134 0 39 0 1613 1412,~~642,788~~379.2464 0.00 ~~537~~1,~~524~~544,221.7257 0.00 21,~~180~~956,~~312~~601.9621 90 Days 20 0 39 0 59 ~~205,465~~0.4200 0.00 ~~489~~1,~~865~~474,919.5401 0.00 ~~695~~1,~~330~~474,919.9601 120 Days 0 0 14 0 14 0.00 0.00 ~~184~~563,~~425~~965.2454 0.00 ~~184~~563,~~425~~965.2454 150 Days 0 0 21 0 21 0.00 0.00 ~~347~~184,~~803~~425.1924 0.00 ~~347~~184,~~803~~425.1924 180 Days 0 0 13 0 13 0.00 0.00 ~~169~~517,~~803~~606.6584 0.00 ~~169~~517,~~803~~606.6584 Totals 3635 01 1026 0 4662 54,~~507~~853,~~713~~276.0504 0167,419.0025 14,~~729~~285,~~422~~138.3420 0.00 79,~~237~~305,~~135~~833.3949 0-29 Days 0.~~000000~~072411% 0.000000% 0.000000% 0.~~000000~~072411% 0.~~000000~~075221% 0.000000% 0.000000% 0.~~000000~~075221% 30 Days 12.~~485149~~244750% 0.000000% 0.000000% 0.000000% 12.~~485149~~244750% 1.~~599739~~995279% 0.000000% 0.000000% 0.000000% 1.~~599739~~995279% 60 Days 0.~~919378~~289645% 0.000000% 0.~~212164~~651702% 0.000000% 10.~~131542~~941347% 0.~~718148~~185281% 0.000000% 0.~~234980~~693813% 0.000000% 0.~~953128~~879094% 90 Days 0.~~141443~~000000% 0.000000% 0.~~212164~~651702% 0.000000% 0.~~353607~~651702% 0.~~089820~~000000% 0.000000% 0.~~214146~~662676% 0.000000% 0.~~303965~~662676% 120 Days 0.000000% 0.000000% 0.~~070721~~289645% 0.000000% 0.~~070721~~289645% 0.000000% 0.000000% 0.~~080622~~253388% 0.000000% 0.~~080622~~253388% 150 Days 0.000000% 0.000000% 0.~~141443~~072411% 0.000000% 0.~~141443~~072411% 0.000000% 0.000000% 0.~~152043~~082862% 0.000000% 0.~~152043~~082862% 180 Days 0.000000% 0.000000% 0.~~070721~~217234% 0.000000% 0.~~070721~~217234% 0.000000% 0.000000% 0.~~074230~~232559% 0.000000% 0.~~074230~~232559% Totals 2.~~545969~~534395% 0.~~000000~~072411% 01.~~707214~~882694% 0.000000% 34.~~253182~~489500% 2.~~407706~~180559% 0.~~000000~~075221% 01.~~756020~~925297% 0.000000% 34.~~163726~~181077% DELINQUENT BANKRUPTCY FORECLOSURE REO Total 2 No of Loans No of Loans No of Loans No of Loans No of Loans Principal Balance Principal Balance Principal Balance Principal Balance Principal Balance 0-29 Days 0 0 0 0 0.00 0.00 0.00 0.00 30 Days 01 0 0 0 01 0363,464.0048 0.00 0.00 0.00 0363,464.0048 60 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 90 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 120 Days 0 0 10 0 10 0.00 0.00 ~~327,325~~0.6300 0.00 ~~327,325~~0.6300 150 Days 0 0 01 0 01 0.00 0.00 0327,325.0063 0.00 0327,325.0063 180 Days 0 0 0 0 0 0.00 0.00 0.00 0.00 0.00 Totals 01 0 1 0 12 0363,464.0048 0.00 327,325.63 0.00 ~~327~~690,~~325~~790.6311 0-29 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 30 Days 01.~~000000~~219512% 0.000000% 0.000000% 0.000000% 01.~~000000~~219512% 01.~~000000~~184829% 0.000000% 0.000000% 0.000000% 01.~~000000~~184829% 60 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 90 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 120 Days 0.000000% 0.000000% 10.~~219512~~000000% 0.000000% 10.~~219512~~000000% 0.000000% 0.000000% 10.~~066195~~000000% 0.000000% 10.~~066195~~000000% 150 Days 0.000000% 0.000000% 01.~~000000~~219512% 0.000000% 01.~~000000~~219512% 0.000000% 0.000000% 01.~~000000~~067023% 0.000000% 01.~~000000~~067023% 180 Days 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% 0.000000% Totals 01.~~000000~~219512% 0.000000% 1.219512% 0.000000% 12.~~219512~~439024% 01.~~000000~~184829% 0.000000% 1.~~066195~~067023% 0.000000% 12.~~066195~~251853%

COLLATERAL STATEMENT Collateral Description Fixed & Mixed ARM Weighted Average Gross Coupon 7.~~621162~~615072% Weighted Average Net Coupon 7.~~121162~~115071% Weighted Average Pass-Through Rate 6.~~429885~~427028% Weighted Average Maturity(Stepdown Calculation ) ~~352~~351 Beginning Scheduled Collateral Loan Count 1,~~530~~496 Number Of Loans Paid In Full 3433 Ending Scheduled Collateral Loan Count 1,~~496~~463 Beginning Scheduled Collateral Balance ~~266~~259,~~407~~236,~~857~~932.4647 Ending Scheduled Collateral Balance ~~259~~253,~~236~~026,~~932~~282.4766 Ending Actual Collateral Balance at 3130-~~Aug~~Sep-2003 ~~259~~253,~~453~~246,~~892~~751.3334 Monthly P &I Constant 1,~~911~~860,~~635~~171.0768 Special Servicing Fee 0.00 Prepayment Penalties 0.00 Realized Loss Amount 0.00 Cumulative Realized Loss 0.00 Ending Scheduled Balance for Premium Loans ~~259~~253,~~236~~026,~~932~~282.4766 Scheduled Principal ~~219~~215,~~687~~081.2084 Unscheduled Principal 65,~~951~~995,~~237~~567.7997

Miscellaneous Reporting Target Overcollateralization 3,762,696.56 Overcollateralization Amount 3,762,696.56 Overcollateralization Deficit Amount 0.00 Overcollateralization Reduction Amount 0.00 Overcollateralization Release Amount 0.00 Excess Cash 1972,~~017,015~~301.1352 Stepdown Event NO Trigger Event NO Cap Agreement Payment 0.00 Maximum Rate Group 1 14.~~8516004001~~8454360528% MAximum Rate Group 2 14.~~3692312799~~3420331849%

Group Level Collateral Statement Group 1 2 Total Collateral Description Fixed 15/30 & ARM Fixed 15/30 & ARM Fixed & Mixed ARM Weighted Average Coupon Rate 7.~~681438~~677627 7.~~188328~~148940 7.~~621162~~615072 Weighted Average Net Rate 7.~~181438~~177627 6.~~688327~~648939 7.~~121162~~115071 Weighted Average Maturity ~~604~~603 ~~705~~703 ~~352~~351 Beginning Loan Count 1,~~443~~414 8782 1,~~530~~496 Loans Paid In Full 2933 50 3433 Ending Loan Count 1,~~414~~381 82 1,~~496~~463 Beginning Scheduled Balance ~~233~~228,~~843~~563,~~262~~564.2099 3230,~~564~~673,~~595~~367.2648 ~~266~~259,~~407~~236,~~857~~932.4647 Ending scheduled Balance ~~228~~222,~~563~~377,~~564~~048.9935 30,~~673~~649,~~367~~234.4831 ~~259~~253,~~236~~026,~~932~~282.4766 Record Date 0809/3130/2003 0809/3130/2003 0809/3130/2003 Principal And Interest Constant 1,~~688~~650,~~720~~769.7874 ~~222~~209,~~914~~401.2994 1,~~911~~860,~~635~~171.0768 Scheduled Principal ~~191~~188,~~843~~414.7395 2726,~~843~~666.4789 ~~219~~215,~~687~~081.2084 Unscheduled Principal 5,~~087~~998,~~853~~101.4869 1(2,~~863,384~~533.3172) 65,~~951~~995,~~237~~567.7997 Scheduled Interest 1,~~496~~462,~~877~~354.0579 ~~195~~182,~~070~~735.8205 1,~~691~~645,~~947~~089.8784 Servicing Fees 9795,~~434~~234.7084 1312,~~568~~780.59 ~~111~~108,~~003~~015.2943 Master Servicing Fees 0.00 0.00 0.00 Trustee Fee 1,~~948~~904.69 ~~271~~255.3762 2,~~220~~160.0631 FRY Amount 7,~~604~~448.6039 1,~~221~~142.0033 8,~~825~~590.6072 Special Hazard Fee 0.00 0.00 0.00 Other Fee ~~131~~127,~~742~~818.0383 10,~~680~~068.2581 ~~142~~137,~~422~~887.2864 Pool Insurance Fee 0.00 0.00 0.00 Spread Fee 1 0.00 0.00 0.00 Spread Fee 2 0.00 0.00 0.00 Spread Fee 3 0.00 0.00 0.00 Net Interest 1,~~258~~229,~~147~~948.0304 ~~169~~158,~~329~~487.6170 1,~~427~~388,~~476~~435.6474 Realized Loss Amount 0.00 0.00 0.00 Cumulative Realized Loss 0.00 0.00 0.00 Percentage of Cumulative Losses 0.00 0.00 0.00 Prepayment Penalties 0.00 0.00 0.00 Special Servicing Fee 0.00 0.00 0.00 Pass-Through Rate 6.~~456361~~457449 6.~~239768~~200339 6.~~429885~~427028

Filing Compare · ENCORE CREDIT CORP MORTGAGE PASS THROUGH CERTS SER 2003-1